Japanese investment firm Metaplanet is set to make its first profit in seven years thanks to Bitcoin.
Metaplanet representatives сообщили , that in 2024 the company will make a profit of 270 million yen (₽180,9 million) and thus reverse the negative trend, as a result of which the organization has suffered losses every year since 2017.
Metaplanet's financial success was largely due to its bitcoin call options trading, which will bring in 520 million yen (₽348,4 million). In addition, the company will earn 370 million yen (₽247,9 million) from its hotel business, which will leave it in the black after expenses.
According to Metaplanet employees, the institution currently holds 1142,3 BTC worth $115,6 million at the current exchange rate. The firm began buying bitcoins in May 2024 and has earned 7,4 billion yen (₽5 billion) from cryptocurrency investments. Investments in digital assets have proven to be a profitable venture because the bitcoin rate up by 140% since the beginning of the year and recently updated its historical maximum at $108,455.
Bitcoin price growth since the beginning of 2024
Bitcoins have also revived the Metaplanet stock market. After the company began acquiring coins, Metaplanet securities began to enjoy high demand and because of this went up more than 14 times since May. If the price of BTC continues to rise, the value of Metaplanet assets will also increase.
